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THERE IS NO MONEY IN CIRCULATION BECAUSE GOVT HAS NOT PAID CONTRACTORS AND SUPPLIERS, MWAMBA

Former Zambia’s Ambassador to Ethiopia Emmanuel Mwamba says the economy is grappling because there is no money in circulation.
Speaking on Radio Christian Voice today, Mr. Mwamba said this has been caused by failure by government to pay contractors and suppliers.
He said it is logical that money can only in circulation when local have enough liquidity.
Mr. Mwamba said but the UPND has decided to hold on to money instead of paying off debt.
He said it will be important that the UPND government release the money and pay off the debt so that there can be enough liquidity.
Meanwhile Mr. Mwamba said the release of K2.1 million to pay retirees is a drop in the ocean.
He said that the UPND promised to pay all retirees but it is surprising that little money has been released.
The former Ambassador said the Patriotic Front government released about K2.1 billion to pay the retirees, this is why the number of unpaid retirees has reduced.
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